- Trina Solar Co Ltd secures a USD 235 million (EUR 215.3 million) green loan for a six-year term, arranged by Standard Chartered Plc.
- The funds will be used to construct a 1.35 million-square-foot (125,419-square-meter) solar panel factory in Wilmer, Texas, with an annual production capacity of 5.0 GWdc.
- The new facility is expected to generate 1,500 local jobs and support various solar panel applications, including utility-scale, commercial-industrial, and residential.
Trina Solar Co Ltd, a prominent Chinese manufacturer in the solar energy sector, has successfully secured a substantial green loan of USD 235 million (EUR 215.3 million) to finance the construction of a state-of-the-art solar panel factory in the United States. Standard Chartered Plc, the sole lead structuring bank and book runner, announced the loan on Wednesday.
In its comprehensive role, Standard Chartered has acted as the green loan coordinator, joint lead arranger, lender, and hedge counterparty, underlining its significant involvement in structuring and facilitating the loan. The green loan will be instrumental in advancing Trina Solar’s ambitious plans to establish a critical manufacturing hub in Wilmer, Texas.
The new facility will span 1.35 million square feet (125,419 square meters) and bolster Trina Solar’s production capabilities. Once operational, the plant is projected to deliver an impressive annual output of 5.0 GWdc. The facility will feature seven advanced assembly lines dedicated to producing three distinct types of solar panels. These panels will cater to various applications, including utility-scale projects, commercial and industrial needs, and residential installations.
The establishment of the Wilmer factory is expected to significantly impact the local economy, creating approximately 1,500 new jobs. This investment represents a substantial commitment to expanding solar manufacturing capabilities and reflects a broader trend of increasing green energy investments in the United States.
Standard Chartered’s involvement in this transaction highlights its ongoing commitment to supporting sustainable development and advancing the green finance sector globally.
USD 1.0 = EUR 0.916